According to Future Market Insights (FMI), the global waxed paper market is estimated to be valued at US$ 1,863.7 million in 2024. Global demand for waxed paper is predicted to rise at a steady CAGR of 4.8% throughout the forecast period. By 2034, the market is expected to reach US$ 2,991.8 million.
Waxed paper is increasingly used in the food industry to preserve the freshness and quality of ready-to-eat food items and acts as a barrier against external elements. Waxed paper packaging and wrapping ensure that consumers have fresh and flavourful eating experiences, driving the market growth.
Fast food and ready-to-eat items are becoming oilier, leading to rising demand for packaging that prevents greasiness. Waxed paper, with its grease-resistant properties, is sustainable and prevents oil leakage and grease stains, ensuring the integrity of packaging during handling and consumption.
The waxed paper serves better portability and convenience while delivering food, allowing consumers to carry and move with their ready-to-eat foodstuff easily. The lightweight and foldable nature of waxed paper is suitable for packaging for portable and on-the-go consumption, fueling market expansion.
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Advancements and innovations in coating technologies related to improved performance, sustainability, and versatility of waxed paper products are creating traction in the industry. Developing advanced coating formulations using water-based, solvent-free, and low migration-safe coatings is ongoing to meet the necessary regulatory requirements for addressing food safety concerns.
Key Takeaways from the Global Waxed Paper Market
- Based on product type, the greaseproof segment is expected to surge at 3.9% CAGR by 2034.
- The waxed paper industry in the United States is expected to expand at a CAGR of 4.2% by 2034.
- South Africa is expected to surge at 7.1% CAGR by 2034.
- India’s waxed paper market is projected to surge at an 8.2% CAGR during the forecast period.
- The global waxed paper market is estimated to be valued at US$ 1,863.7 million in 2024.
“Several countries are actively advocating for sustainable packaging solutions, with initiatives like the European Green Deal and Circular Economy Action Plan promoting the transition toward eco-friendly materials. Encouraging eco-friendly alternatives such as waxed paper is further expected to encourage environmentally responsible packaging practices worldwide.”- says Ismail Sutaria (Lead Consultant, Packaging and Materials)
Competitive Landscape:
Georgia-Pacific Consumer Products LP, Pixelle Specialty Solutions, RP Paper Impex, Nordic Paper, and Asia Pulp & Paper Group are the leading players in the market. Tier 1 players in the market hold 5 to 15% of the overall waxed paper market. Key market players emphasize customization services such as custom printing, embossing, or branding on waxed paper products to expand their market reach.
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For instance,
- In July 2023, Pixelle Specialty Solutions launched FlexArmor, which is for uncoated applications, and SelectArmor, which has a coated surface for enhanced printability and is its new barrier paper solution.
- In December 2023, Georgia-Pacific invested US$ 425 million to expand its Dixie facility in Jackson, Tennessee.
Leading Key Players:
- Georgia-Pacific Consumer Products LP
- Pixelle Specialty Solutions
- RP Paper Impex
- Nordic paper
- Asia Pulp & Paper Group
- MPI Papermills Inc.
- Ahlstrom-Munksjo Oyj
- Reynolds Group
- Delfort Group Ag
- Cosmoplast
- JK Paper Ltd.
- Drewsen Spezialpapiere GmbH & Co. KG
- Metsä Group
- Vizille paper mills
- Sun Pack Corporation
- Segezha Group
- Pregis LLC
- SIMPAC Inc.
- KRPA Holding CZ a.s.
- Napco National
- The Griff Network
- BiOrigin Specialty Products (BSP)
Get More Insights into the Global Waxed Paper Market Report:
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global waxed paper market, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals market growth projections on thickness (up to 50 gsm, 50 to 100 gsm, above 100 gsm), paper grade (bleached and unbleached), product type (wax coated, greaseproof, silicone coated, colored paper), application (printing and packaging), end-use (food and other industrial), and region.
Global Waxed Paper Market Segmentation by Category
By Thickness:
- Up to 50 GSM
- 50 to 100 GSM
- Above 100 GSM
By Paper Grade:
- Bleached
- Unbleached
By Product Type:
- Wax Coated
- Greaseproof
- Silicone Coated
- Colored Paper
By End-use:
- Food
- Ready to Eat Food
- Bakery & Confectionery
- Dairy Products
- Other Food
- Other Industrial
By Application:
- Printing
- Packaging
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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